ASIC job security paramount

Federal Member for Gippsland Darren Chester says he is confident if the registry arm of the Australian Securities and Investments Commission is privatised, there will be ongoing employment in Traralgon, with potential for more jobs in future.

Mr Chester said a commitment to keep jobs in Traralgon and the Latrobe Valley would remain a focus as the government entered the final phase of testing the market for private sector interest to upgrade, operate and add value to the registry functions of ASIC.

Mr Chester said he had made his colleagues and decision-makers aware of ASIC’s importance as a major employer to the Latrobe Valley economy.

“The government is yet to determine if the privatisation of the registry will proceed,” Mr Chester said.

“If it does proceed, I have received assurances that there will be no job losses in the Latrobe Valley.”

Senator Mathias Cormann, Minister for Finance, said there were six indicative bids received from a broad range of private sector bidders.

“The government is pleased with the proposed commitments received during the indicative bid phase around maintaining the ASIC Registry’s existing operations in Traralgon and the Latrobe Valley area. We will remain focused on this as the final bid phase moves forward,” Mr Cormann said.

He said the Commonwealth would retain ownership of the ASIC Registry’s data.

The government will make a decision on any further steps, following the evaluation of the final bids.